PureWave Secures 12 Million with help of 4 Venture Funds

West Palm Beach (HedgeCo.net) – PureWave Networks Inc. has raised $12 million in Series B funding. ATA Ventures and Leapfrog Ventures were joined by venture funds Allegis Capital and Benhamou Global Ventures.

Two new funds, ATA Ventures and Leapfrog Ventures, have joined PureWave’s existing investors in completing the funding round. The Series B funding will allow PureWave to commercially introduce its advance beam forming WiMAX base stations in North America, the APAC region and other selected markets and to expand its operations.

”PureWave’s strong balance sheet in this challenging economic environment, together with our leading edge product offering, will be the foundation of our future growth,” said Gideon Ben-Efraim, PureWave’s CEO and Chairman.

Leapfrog is an early stage technology investor based in Menlo Park, CA. The principals have collectively been involved in over 60 venture investments. Leapfrog is currently investing from its second fund, which commenced its activity in 2005.

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